| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The USD/ZAR currency pair continued to trade downwards within the falling wedge pattern.
From a theoretical perspective, it is likely that the exchange rate could continue to move within the predetermined pattern until the beginning of December. Then, a breakout north could follow.
Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-period moving averages in the 16.45/16.62 area. Thus, a breakout south could occur, and the pair could target the Fibo 50.00% at 15.34.